Profit: -12.4159 mil. lei
In February 2011, Chevron acquired the onshore EV-2 Barlad concession. The concession covers an area of 1.6 million acres (6,350 sq. km) in the northeast of the country. In 2011, Chevron completed a 248-mile (400-km) 2D seismic acquisition program.
The collected data has been used to plan an exploration drilling program.
In October 2013, Chevron has begun the exploration activities on its concession land near Silistea, Pungesti commune, Vaslui county. Chevron has selected the site based on a number of factors, including the results of the seismic data surveys and the environmental assessments.
The exploration activities have started with the construction of a well pad. To protect the land, an impermeable protective liner has been installed under the well pad to serve as a barrier. The original soil and excavated material were stockpiled to be reused when the site is reclaimed after drilling and completion activities are over.
The drilling rig and associated equipment were transported in sections to the recently constructed well pad. The components have been assembled on site and tested for safety and performance.
In April 2014, following the completion of all tests, Chevron lifted the drilling rig, and at the beginning of Maz 2014, Chevron started the drilling. The drilling is expected to run continuously until the hole is drilled to the target depth of approximately 3.000 m below the surface and penetrate the shale formation. Various measurements and rock samples will be taken to determine if natural gas is present and how it may be produced.
Chevron’s priority is to conduct these activities in a safe and environmentally responsible manner consistent with the permits under which it operates. Chevron is committed to building constructive and positive relationships with the communities where it operates and will continue its dialogue with the public, local communities and authorities on its projects.
Since 2011, when the company made its presence known on the Romanian business market, Chevron partnered with various Romanian companies offering a range of support services.
COMPANY PHILOSOPHY: At the heart of The Chevron Way is our vision... to be the global energy company most admired for its people, partnership and performance. Everywhere we conduct our operations, we work closely with the local governments, we respect our neighbors and we invest in community development. Delivering results the right way is a responsibility that our company takes seriously. Our Operational Excellence Management System guides us as we seek to achieve increasingly higher levels of safety, operational and environmental performance.
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